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WASHINGTON-CUNA and NAFCU each wrote the Federal Reserve Board and Federal Trade Commission to endorse the recently proposed effective dates for certain provisions of the Fair and Accurate Credit Transactions Act. The agencies previously requested comment on a proposed effective date of March 31, 2004 for changes in the law...

DENVER - Citing its role to serve the "unbanked and underserved," Denver Community Federal Credit Union has revealed plans to open a low-income branch next fall that will offer check cashing to non-members while also utilizing a stored value card. The new branch, located in a Hispanic area of Denver,...

WASHINGTON-The U.S. Small Business Administration reopened its 7(a) loan program Jan. 14 after a temporarily halt with an additional $470 million in lending authority and a $750,000 loan cap. Short of funds because of Congress' failure to pass the omnibus appropriations bill, SBA temporarily halted 7(a) guarantees on Jan. 6....

PURCHASE, N.Y. - With a little more than two weeks remaining before its signature debit cards are banned from Wal-Mart stores, MasterCard has fired back. A survey the card brand commissioned with the Harris opinion research firm found that nearly two-thirds (63%) of respondents say their feelings toward a store...

PETERBOROUGH, N.H. - Brookwood Capital, perhaps the youngest and least recognized of the credit card portfolio brokers, reported having facilitated the sale of between 10 and 12 credit card portfolios in 2003, roughly half of them representing credit union sellers according to Tim Kolk, Brookwood's Managing Partner. The firm's other...

WASHIINGTON - From the looks of it, the CUNA District 1 Class B board seat will probably go uncontested. At press time, John Prumo, president/CEO of GPO Federal Credit Union in New Hartford, N.Y., was the only candidate submitted. The deadline to submit nominations was Jan. 16. If Prumo is...

HOUSTON, Texas - Auto Financial Group, an online provider of residual-based financing products for credit unions, has formed a partnership with Membership Marketing Support Services, a company that specializes in marketing for credit unions, to deliver a "state-of-the-art" vehicle balloon loan-financial product - MAPS - to credit unions with an...

Heritage Federal Credit Union, Newburgh, Ind., has promoted Mark Hudson to vice president of consumer lending and Tony Freels to assistant vice president of internal audit. CUES, Madison, Wis. has promoted Kristina Mattson to vice president of membership; Teri Schacker to vice president of marketing; Jenny Mueller to Web/e-commerce manager;...